Insurance and Credit

When buying a new home you’ll know that this is probably the most important and significant financial outlay you’ll ever have in your life. What you might not be thinking about is that your hard earned home can be taken away from you in a flash. Of course, we know people can lose them, but we never think it’s going to happen to us. Yet, people lose jobs or fall ill every day and are unable to make their mortgage payments. You can avoid this if you have mortgage protection cover.

Mortgage protection insurance can protect you if you lose your job. It also protects you if you become ill or have an accident that keeps you from working. Your mortgage protection insurance ensures that payments of your mortgage will still be met. This means that you can turn your attention to getting well or getting a new job rather than worrying about how your mortgage is going to be paid. Even better, this type of insurance is easy and fairly inexpensive to set up.

How Mortgage Protection Insurance Works

Mortgage protection insurance simply protects you against loss, similar to what your car insurance does for you when you drive or what life insurance does for your loved ones should something happen to you so that they’re protected. Mortgage protection insurance pays your mortgage payments every month, usually for a period of up to 12 months from the date you start using your protection plan. This can be different depending on the cover plan you choose, and depends on your circumstances.

Mortgage Protection Insurance Cost

Usually, mortgage protection insurance is quite inexpensive. In fact, you can pay as little as 2.15 a month for it. The actual cost of your payment will depend on how old you are, how big your mortgage is, and what type of cover you need.

For example, if you’re 25 and your monthly mortgage payment is 400 a month, it will cost you 8.60 a month for full coverage. At 50 with the same mortgage payments, your payment would be 19.40, so you can see that rates would rise with age.

One benefit to this type of cover is that your payments are backdated to the first day you are unemployed because of your situation, whether it be illness, injury or layoff, for example. Therefore, even if you’ve had to wait a month or two for cover to take effect, the full amount from your original claim will be paid to you or your mortgage company beginning on the first day of eligibility.

Mortgage Insurance Cover If You Are Self-Employed

If you’re someone who works for yourself, you can also take out a mortgage protection insurance plan. However, this type of involuntary unemployment cover will only apply to you if you have had to stop trading permanently, not if you’re having a simple lull in work. However, if this could be you, you should seriously think about taking out mortgage protection insurance.

Do you sometimes feel as though there are just not enough hours in the day to get done everything you need or want to get done? Do you struggle trying to balance your work, your family and social life? This article will provide you with a simple three-step process on how to earn more while working less.

One critical key to earning more and working less is being organized. Most people who earn six or seven figures and only work part-time, are highly organized. In addition to being organized you need to prioritize. May of us spend 80% of our time doing things that only make 20% of the difference in our lives. Top income earners, know exactly what matters most and that’s what they spend there time doing. They skip or delegate everything else.

Step 1 — Get organized and prioritize. Create a list of everything you want or need to get done in your life, in your home and in your business or job. That may seem like an unreasonable request but it will not be as hard you think. Sit down and start listing things you either want or need to get done in no particular order. As they pop into your head write them down or if you already have several “to do” lists and sticky notes, locate them all and compile them on one long list. Your “to do” list is finite, despite what you might be thinking right now, and in reality it will probably only take you a couple of hours to create.

Step 2 – Sit in silence for 20 minutes and meditate over your list. Ask for guidance on which are the most important items that will have the greatest impact on your income and quality of life. The most impactful items on your list will start becoming apparent to you. Highlight those items.

Step 3 – Move all of the highlighted items from your list into your calendar. Schedule when you are going to do each task and be realistic when determining how much time to allow for each task. For example, you may schedule one project for Monday from 7am-9am, a task on Tuesday from 8pm-10pm, and six simple phone calls for Thursday from 2pm-3pm and so on.

If you are unable to get all of the items into your calendar within the next two weeks, then you need to refine your highlighted list again before entering them into your schedule.

This simple three-step process will help you get organized, focus on the 20% that will make the biggest impact on your income and quality of life and it will help prevent you from taking on more tasks than you can handle effectively. If you are unable to complete a task during the scheduled time, re-schedule the task for another time. Treat your tasks like they are important meetings because they are.

Once you fully switch over from keeping a running “to do” list to scheduling every task, you will feel more relaxed, be more efficient, have more time and you will get more done. “To Do” lists tend to weigh us down. They make us feel like we will never be caught up, never get it all done and as a result, we often focus on the least important tasks.

When you have a running “to do” list you are more likely to stress over what you need to get done because you don’t know when or how it’s going to get done. By just scheduling what needs to get done, you can relax because it will get done when it’s time to do it. You know you won’t forget because it’s in your calendar, you have made an appointment with yourself to get it done. No more stressing or agonizing over it. Even if it’s just a simple task like making a phone call, if it’s in your schedule you know you won’t forget about it and you will get it done.

Leave open space in your calendar for interruptions, putting out fires and for new and fun things to come into your life. If every minute of everyday is scheduled with something you have no room for anything new, fun and exciting to come into your life. Also, be sure to schedule time with your family, to exercise, to eat and organization time. Organization time is for things like going through your mail, doing your filing, cleaning and those sorts of things. This will help keep you organized and in balance.